Business Insider (UK).
The family business was recently ranked No.1 on the global rankings of the world’s top companies, but a growing number of people are expressing concern about the prospects for the company.
According to the Financial Times, the company, which was founded by her father in the 1980s, is facing a number of challenges, including the loss of its top executive and growing competition from a growing list of new startups.
The family’s chief executive, Peter Hickey, said in a statement that the business is experiencing a difficult period as a result of a combination of factors including an ageing population, competition from new companies and a decline in the price of a range of products.
He also announced that he is stepping down as chief executive and the board will be looking to “promote the business and create a stronger future for the family business”.
Business Insider reached out to the company for comment.